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What are the Disadvantages of Dying without a Will?

What are the Disadvantages of Dying without a Will?

POSTED ON: May 9, 2024 BY: Troy Werner
People who die without a will can leave a thicket of probate problems for loved ones.
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Why are Inheritance Conversations Necessary?

Why are Inheritance Conversations Necessary?

POSTED ON: May 8, 2024 BY: Troy Werner
Death and money aren’t fun subjects to bring up over dinner. However, families who make time for that awkward chat now can spare deep regrets and potentially millions in lost dollars.
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Safeguarding against Financial Exploitation: Estate Planning for Cognitive Decline

Safeguarding against Financial Exploitation: Estate Planning for Cognitive Decline

POSTED ON: May 7, 2024 BY: Troy Werner
As family members and caregivers notice signs of cognitive decline in loved ones, it is essential to take proactive steps to safeguard assets.  Seeking guidance from an elder law attorney to navigate complex planning issues as well as guard against financial exploitation reduces vulnerability to fraud.
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Why Communities Want Small Businesses to Have a Succession Plan in 2024

Why Communities Want Small Businesses to Have a Succession Plan in 2024

POSTED ON: May 6, 2024 BY: Troy Werner
Succession planning is elemental for small business owners, much like estate planning is for anyone with assets. Owners should have a plan ahead of retirement if they become incapacitated or pass away unexpectedly.
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Can You Support a Child with Special Needs?

Can You Support a Child with Special Needs?

POSTED ON: May 3, 2024 BY: Troy Werner
Families that include individuals with special needs require planning to secure their loved ones’ security in the future, both in legal and financial terms. There’s usually no expectation of the child becoming an independent adult, so careful planning is needed, as advised in the recent article “Financial Planning for Families with Disabilities” from Wealth Management. Many families neglect planning for their retirement, focusing all their resources on developing a plan for their disabled child. However, retirement and their child’s future need to be secured, which is where an estate planning attorney can help. In 2014, Congress created The Achieving a…
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Three Estate Planning Strategies You Might Not Know - but Should - SPATs, SLATs, and DAPTs

Three Estate Planning Strategies You Might Not Know - But Should - SPATs, SLATs, and DAPTs

POSTED ON: May 2, 2024 BY: Troy Werner
Learn about three types of trusts specifically for wealthy individuals to prepare for the 2026 estate tax exemption: Domestic Asset Protection Trust (DAPT), Special Power of Appointment Trust (SPAT), and Spousal Lifetime Access Trust (SLAT).
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For Business Owners: Unveiling Opportunities and Pitfalls of Business Trusts

For Business Owners: Unveiling Opportunities and Pitfalls of Business Trusts

POSTED ON: May 1, 2024 BY: Troy Werner
Similar in function to an individual or family trust that owns assets and property, a business trust holds business ownership rights and assets.
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How Parents and Adult Children Talk about Money and Aging

POSTED ON: April 30, 2024 BY: Troy Werner
It’s a conversation fraught with potential tension, in which people examine around concerns about independence, money, responsibility and mortality.
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Unraveling the Mystery of Trusts: What Your Estate Planning Attorney Wishes You Knew

Unraveling the Mystery of Trusts: What Your Estate Planning Attorney Wishes You Knew

POSTED ON: April 29, 2024 BY: Troy Werner
Understanding trusts and their tax nuances can empower you to make informed decisions regarding the type of trust you choose for your estate planning purposes.
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Unveiling Trust Dynamics: Insights on Avoiding Trouble with Your Trustee

Unveiling Trust Dynamics: Insights on Avoiding Trouble with Your Trustee

POSTED ON: April 26, 2024 BY: Troy Werner
Trusts are a smart and well-known estate planning tool that names or appoints a trustee to administer and distribute the assets according to the terms. However, how often do estate owners ask, “What if something goes wrong, and the trustee breaches their duties?”
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